State Bank of India (SBI) Q3 net profit up 84.32%
Due mostly to a decrease in loan loss provisions, State Bank of India (SBI), the biggest lender in the nation, recorded a net profit of Rs 16,891 crore in the third quarter of the fiscal year 2025 (Q3FY25), up 84.32 percent from Rs 9,164 crore in the same period the year before (Q3FY24).
The public sector lender's profit decreased 7.86 percent sequentially from Rs 18,331 crore in the September quarter (Q2FY25).
The Net Interest Income (NII) of the Mumbai-based bank increased 4.09 percent year over year (Y-o-Y) to Rs 41,446 crore in Q3FY25 from Rs 39,816 crore in the same quarter the previous year.
In Q2FY25, NII was flat at Rs 41,620 crore. The domestic business's net interest margin (NIM) decreased from 3.34 percent in Q3FY24 to 3.15 percent in Q3FY25. NIM decreased sequentially from 3.27 percent in Q2 of FY25.
In Q3FY25, its loan loss provisions increased from Rs 1,756 crore in Q3FY24 to Rs 2,305 crore. They fell from Rs 3,631 crore in Q2FY25, though.
In Q3FY25, SBI's advances increased 13.49% year over year to Rs 40.67 trillion. The retail advances reached Rs 14.47 trillion, an increase of 11.65%. The total amount of deposits rose 9.81% year over year to Rs 52.29 trillion.
The share of low-cost deposits -- current account and saving account (Casa) -- in domestic books declined to 39.2 per cent at the end of December 2024 from 41.18 per cent a year ago. Sequentially, they fell to 40.03 per cent in September 2024.
The bank’s gross non-performing asset (NPA) ratio was 2.07 per cent at the end of December 2024 improved by 35 basis points Y-o-Y. The net NPA ratio was at 0.53 per cent, improved by 11 basis points Y-o-Y. The provision coverage ratio, including technical write-offs, stood at 91.74 per cent in December as against 91.49 per cent a year ago.
City Union Bank Q3 Net profit rises 13%
Compared to Rs.253 crore during the same period previous year, City Union Bank's net profit for the third quarter of FY25 increased by 13% year over year (YoY) to Rs.286 crore. During the October–December period, the bank's net interest income (NII) increased by 14%, from ₹516 crore YoY to Rs.587.7 crore.
With gross non-performing assets (GNPA) falling to 3.36% from 3.54% in the prior quarter (QoQ), the lender claimed an improvement in asset quality. In a similar vein, net NPA (NNPA) decreased from 1.62% QoQ to 1.42%.
For the second quarter of FY25, the private sector lender posted a net profit of Rs.285.2 crore. In the September quarter, net interest income (NII) increased by 8.2%. GNPA decreased from 3.88% to 3.54% in Q1.
DCB Bank Q3 Net profit grows 20%
For the third quarter ending December 31, 2024, private sector lender DCB Bank Ltd. announced a 19.6% year-over-year (YoY) growth in net profit at Rs.151.4 crore on Friday, January 24. In the same quarter of the previous fiscal year, the Vabk reported a net profit of Rs.126.6 crore.
The difference between a bank's interest income from lending and the interest it pays depositors is known as net interest income (NII), and it increased 14.5% to Rs.543 crore from Rs.474 crore in the same quarter of FY24.
In the December quarter, the gross non-performing asset (GNPA) ratio was 3.11%, compared to 3.29% in the September quarter. In comparison to 1.17% quarter-over-quarter (QoQ), net non-performing assets (NNPA) were 1.18%.
In the December quarter, the gross non-performing asset (GNPA) ratio was 3.11%, compared to 3.29% in the September quarter. In comparison to 1.17% quarter-over-quarter (QoQ), net non-performing assets (NNPA) were 1.18%.
As of December 31, 2024, DCB Bank recorded a strong 23% YoY rise in advances and a 20% YoY growth in deposits. While PCR excluding gold loan non-performing assets (NPAs) was slightly higher at 75.56%, the provision coverage ratio (PCR) was 74.76%.
With a capital adequacy ratio of 16.29% in accordance with Basel III standards, the bank maintained a healthy capital position. This comprised a 13.54% Tier I capital ratio and a 2.75% Tier II capital ratio. For Q3FY25, the cost-to-average-assets ratio was 2.59% and the credit cost was 0.38%, according to key efficiency and cost criteria.
Bandhan Bank Q3 results: Net profit falls 42%
On January 31, Bandhan Bank announced a 42% drop in net profit for the quarter that ended on December 31, 2024, to Rs 426 crore. It reported net profit of Rs 733 crore in the year-ago period. Net interest income (NII) as of Q3FY25 amounted at Rs 2,830 crore as opposed to Rs 2,525 crore as of Q3FY24, reflecting a growth of 12% YoY.
Also Read - Quarterly Financial Results of Public & Private sector banks for Q3FY25
"Bandhan Bank's performance in the third quarter reflects sustainable growth, with a strong focus on risks and compliance," stated MD & CEO Partha Pratim Sengupta in his remarks about the Bank's performance. The dedication of our staff and the confidence of our clients are the foundations of our ongoing success.
Bandhan Bank is well-positioned for the next stage of growth as we transition into Bandhan Bank 2.0, thanks to an increase in our loan book and an emphasis on technology innovation, process improvement, and fortifying our staff and products."
While the net non-performing asset (NPA) was 1.3% in Q3FY25 compared to 2.2% YoY, the gross NPA was 4.7% in Q3FY25 compared to 7% a year earlier. The quarter's Net Interest Margin (NIM) was 6.9%, down from 7.2% in Q3FY24. In Q3FY24, the provisions were Rs 684 crore, but in Q3FY25, they were Rs 1,376 crore.
Operating profit increased 22% year over year to Rs 2,021 crore in Q3FY25 from Rs 1,655 crore in Q3FY24.As of December 31, 2024, Gross Advances stood at Rs.1.32 lakh crore as against Rs.1.16 lakh crore in the previous year, a growth of 14% YoY.
IndusInd Bank Q3 results: Net profit declines 39%
The net profit for IndusInd Bank's October–December quarter was predicted to drop 38.6% year over year to Rs 1,411 crore, while the net interest income was predicted to increase by 10% to Rs 5,833 crore.
At Rs 5228 crore, the net interest income (NII) was 1.2% less than the Rs 5,295 crore earned the previous year.
In Q3 of FY25, the lender's gross non-performing assets (GNPA) were Rs 8375 crore, or 2.25 percent, as opposed to Rs 6,279 crore, or 1.92 percent, in the previous year.
Net Non-Performing Assets (NNPA) stood at Rs 2496 crore (0.68 percent) versus Rs 1,864 (0.57 percent) last year.
Punjab National Bank(PNB) Q3 net profit doubles, NII up 7.2%
On Friday, Punjab National Bank said that its standalone net profit for the third quarter, which ended on December 31, 2024, had doubled to Rs 4,508 crore. In the previous year's October–December quarter, the bank made a net profit of Rs 2,223 crore.
According to a regulatory statement by Punjab National Bank (PNB), the bank's overall revenue climbed to Rs 34,752 crore in the third quarter of the current fiscal year from Rs 29,962 crore in the same time last year.
The bank's interest income increased from Rs 27,288 crore during the same time last fiscal year to Rs 31,340 crore during the quarter. In comparison to Rs 10,293 crore in the same quarter, the bank's Net Interest Income (NII) increased 7.17 percent to Rs 11,032 crore.
Regarding asset quality, the bank's gross non-performing assets ratio decreased from 6.24 percent to 4.09 percent in the previous year. Similarly, at the conclusion of the third quarter of the previous fiscal year, net non-performing assets (NPAs), or bad loans, decreased from 0.96 percent to 0.41 percent. Consequently, provisions for bad loans decreased from Rs 2,994 crore in the previous year to Rs 318 crore in the current quarter.
Bank of Baroda(BoB) Q3 Net profit rises 6%, NII up 3%
According to a regulatory statement by Bank of Baroda, the bank's overall revenue climbed from Rs 31,416 crore in the previous fiscal year to Rs 34,676 crore in the third quarter of the current one.
Also Read - Quarterly Financial Results of Public & Private sector banks for Q3FY25
According to Bank of Baroda, interest income increased to Rs 30,908 crore during the quarter from Rs 28,605 crore during the same period in the previous fiscal year. In the same quarter, the bank's Net Interest Income (NII) increased by 2.8% to Rs 11,417 crore from Rs 11,101 crore.
By the end of December 2023, the gross non-performing asset (NPA) had decreased to 2.43 percent from 3.08 percent. In a same vein, the net non-performing asset (NPA) decreased from 0.70 percent at the end of 2023 to 0.59 percent.
However, compared to the same quarter of the previous fiscal year, when provisions and contingencies were Rs 666 crore, they increased to Rs 1,082 crore during the third quarter of FY25.
Indian Bank Q3 Profit surges 35% YoY
The quarter's net interest margin increased from 3.41% to 3.45%. Binod Kumar, the bank's new managing director, stated that the increase in profitability was a result of both a good recovery and higher net interest income. This position was taken up by Kumar earlier this month.
Also Read - Quarterly Financial Results of Public & Private sector banks for Q3FY25
At 4749 crore as opposed to Rs 4097 crore, the bank's operational profit was 16% higher year over year. Compared to Rs 5815 crore, net interest income increased by 10% to Rs 6415 crore. At Rs 1059 crore as opposed to Rs 1349 crore, the total provisions were less.
In keeping with the improvement in asset quality, provisions to cover bad loans totaled Rs 611 crore out of this, compared to Rs 906 crore.
At the end of December, its gross non-performing assets ratio dropped from 4.47% to 3.26%. Compared to 0.53%, net NPA was 0.21%. The provision coverage ratio increased to 90.09%, a 219 basis point improvement.
Union Bank of India Q3 Net profit jumps 28%
On Monday, January 27, the state-owned Union Bank of India said that its net profit for the third quarter, which ended on December 31, 2024, increased 28.2% year over year (YoY) to Rs.4,603.6 crore.
According to a regulatory filing, Union Bank of India reported a net profit of Rs.3,589.9 crore for the same quarter of the previous fiscal year. The difference between a bank's interest revenue from lending and the interest it pays depositors is known as net interest income (NII), and it rose by 0.8% to Rs.9,240.2 crore from Rs.9,168 crore in the same quarter of FY24.
In the December quarter, the gross non-performing asset (GNPA) was 3.85%, compared to 4.36% in the September quarter. Net NPA was 0.82%, down from 0.98% in the previous quarter. Monetary-wise, net non-performing assets (NPA) were Rs.7,568.4 crore compared to Rs.8,758.6 crore, while gross NPA was Rs.36,554.3 crore compared to Rs.40,498.9 crore.
Also Read - Quarterly Financial Results of Public & Private sector banks for Q3FY25
Provisions were Rs.1,599.1 crore as opposed to Rs.1,712.2 crore for the quarter and Rs.1,747.8 crore for the quarter. As of December 31, 2024, Union Bank of India's global deposits have increased by 3.76% year over year to Rs.12,16,562 crore. With gross advances rising 5.94% year over year, the bank's whole business rose by 4.70%, contributing to a total business size of Rs.21,65,726 crore.
The RAM (Retail, Agriculture, and MSME) segment witnessed a robust 9.26% year-on-year growth, driven by a 16.36% rise in retail advances, a 4.34% increase in agriculture loans, and a 6.34% uptick in MSME advances. RAM advances now constitute 56.69% of the bank's domestic advances.
Federal Bank Q3 profit falls 5%
Federal Bank, a private sector lender, announced on Monday that its third quarter net profit, which ended in December 2024, decreased by 5% to Rs 955 crore. In the same quarter last year, the bank made a net profit of Rs 1,007 crore.
However, according to a regulatory filing from Federal Bank, overall income rose to Rs 7,725 crore during the reporting quarter from Rs 5,593 crore during the same period last year.
In addition, interest income increased to Rs 6,809 crore during the reviewed quarter from Rs 5,730 crore during the same period last year. In the third quarter of the previous fiscal year, operating profit increased to Rs 1,559 crore from Rs 1,437 crore.
On the asset quality front, the bank's gross non-performing assets ratio improved to 1.95 per cent as against 2.29 per cent a year ago. Similarly, net NPAs, or bad loans, came down to 0.49 per cent from 0.64 per cent at the end of the third quarter last fiscal year.
However, the overall provisions, excluding tax, tripled to Rs 292 crore during the quarter from Rs 91 crore a year ago. Capital Adequacy Ratio rose to 15.16 per cent from 15.02 per cent at the end of the third quarter of the previous financial year.
Canara Bank Q3 Net profit rises 12%
Canara Bank announced on Monday that its standalone net profit for the third quarter, which ended on December 31, 2024, increased by 12.25 percent to Rs 4,104.20 crore. In the previous year's October–December quarter, the bank made a net profit of Rs 3,656.12 crore.
According to a regulatory statement by Canara Bank, the bank's overall revenue climbed 11.7 percent to Rs 36,113.77 crore in the third quarter of the current fiscal year from Rs 32,333.93 crore in the same time last year. The bank's interest income increased from Rs 28,038.83 crore during the same time last fiscal year to Rs 30,311.61 crore during the quarter.
In comparison to the same quarter in FY24, when it was Rs 9,417 crore, the bank's Net Interest Income (NII) decreased 2.85% to Rs 9,148.57 crore. By the end of December 2023, the gross non-performing asset (NPA) had decreased to 3.34 percent of total advances from 4.39 percent.
In a same vein, the net non-performing asset (NPA) decreased somewhat to 0.89 percent from 1.32 percent at the end of December 2023. Nevertheless, compared to Rs 1,028 crore in the same quarter of the prior fiscal year, provisions and contingencies for the third quarter of FY25 increased to Rs 2,156 crore.
Compared to Rs 1,898.91 crore in the same period of the prior fiscal year, the provisions and contingencies for the third quarter of FY25 increased to Rs 2,398.25 crore.
ICICI Bank Q3 Profit up 15% YoY; NII grows 9%
India's second largest private sector lender ICICI Bank on Saturday reported that its standalone Q3 profit after tax grew by 14.8% year-on-year (YoY) to Rs 11,792 crore while net interest income (NII) increased 9.1% YoY to Rs 20,371 crore during the December quarter.
It's net interest margin stood at 4.25% in Q3 FY25 compared to 4.27% in Q2 of FY25 and 4.43% in Q3 of FY24. The net NPA ratio was flat sequentially at 0.42% while provisioning coverage ratio on non-performing loans was 78.2% at December-end.
Also Read - Quarterly Results of all banks for Q3FY25
ICICI Bank's total period-end deposits increased by 14.1% YoY and 1.5% sequentially to Rs 15,20,309 crore. The average deposits increased by 13.7% YoY and 2.1% sequentially to Rs 14,58,489 crore during the quarter.
The average current account deposits increased by 13.1% YoY and 4.5% sequentially while average savings account deposits increased 12.3% YoY and 1.3% sequentially.
The average current account and savings account (CASA) ratio was 39% in Q3.
The net domestic advances grew by 15.1% YoY and 3.2% sequentially during the quarter. The retail loan portfolio grew by 10.5% YoY and 1.4% sequentially, and comprised 52.4% of the total loan portfolio.
The gross NPA ratio improved marginally to 1.96% in Q3 vs 1.97% in Q2 of FY25. The gross NPA additions were Rs 6,085 crore in Q3 compared to Rs 5,916 crore in Q1 of FY25 and Rs 5,073 crore in Q2 of FY25.
Yes Bank Q3 Net profit more than doubles
Yes Bank on Saturday, January 25, reported robust third-quarter earnings for FY25, posting a net profit of ₹612.3 crore for the period, significantly exceeding the CNBC-TV18 poll estimate of ₹538.9 crore. It marks a substantial year-on-year increase in profitability, with the private sector lender's net profit up by over 165% compared to ₹231.5 crore in the same quarter last year.
The bank's Net Interest Income (NII) came in at ₹2,223.5 crore, a 10.2% growth compared to ₹2,016.9 crore in Q3 FY2024. However, this was slightly below the street’s expectations, with the CNBC-TV18 poll predicting NII at ₹2,258 crore.
Despite the slight miss on NII, Yes Bank reported stable asset quality metrics, with Gross NPA remaining steady at 1.6% and Net NPA at 0.5%, both unchanged compared to the previous quarter.
Yes Bank's gross and net NPAs showed minor quarterly increases with the Gross NPA rising marginally to ₹3,963.47 crore, compared to ₹3,889.4 crore in Q2 FY2025. The Net NPA stood at ₹1,142.6 crore, a slight decrease from ₹1,168 crore in the previous quarter. The bank maintained its Gross NPA ratio at 1.6% and Net NPA ratio at 0.5%.
Bank of India(BOI) Q3 Net profit rises 34.6% , NII up 11% YoY; Asset quality improves
On Friday, January 24, Bank of India released its October-December quarter results for fiscal 2024-25 (Q3FY25), showing a 34.6% increase in net profit to Rs.2,516.7 crore from Rs.1,869.5 crore during the same period the previous year.
Net interest income (NII), or the difference between interest earned and paid, for the public sector bank (PSB) increased 11.1% to Rs.6,070.3 crore in the December quarter from Rs.5,463.5 crore.
With net profit increasing 35% year over year to Rs.2,517 crore from Rs.1,870 crore in Q3 FY24, Bank of India (BoI) has produced a strong performance for Q3 FY25. The bank's net profit increased by 6% on a sequential basis from Rs.2,374 crore in Q2 FY25. Despite being less than the Rs.4,147 crore recorded in Q2 FY25, operating profit showed a strong 23% YoY rise, hitting Rs.3,703 crore.
Net Interest Income (NII) for the quarter climbed 11% YoY to Rs.6,070 crore, compared to Rs.5,463 crore in Q3 FY24, and was slightly higher than Rs.5,986 crore in the preceding quarter. Although it was less than Rs.2,518 crore in Q2 FY25, NII increased 46% YoY to Rs.1,746 crore.
Also Read - Quarterly Results of all banks for Q3FY25
Although operating expenses decreased sequentially from Rs.4,355 crore in Q2 FY25, they increased from Rs.3,653 crore in Q3 FY24 to Rs.4,114 crore in Q3 FY25.
Bank of India recorded a 35% YoY increase in net profit for the nine months that ended in FY25, totaling Rs.6,593 crore, as opposed to Rs.4,879 crore during the same period the previous year. While NII increased by 7% YoY to Rs.18,331 crore, operating profit for the nine-month period increased by 10% YoY to Rs.11,527 crore. Additionally, non-interest income increased by 28% year over year to Rs.5,566 crore.Operating costs for the bank over the nine months totaled Rs.12,370 crore, which was more than the Rs.10,949 crore spent during the same period last year.
BoI showed consistent improvement in key financial ratios for Q3 FY25. The bank’s Net Interest Margin (NIM) stood at 2.80%, slightly down from 2.85% in Q3 FY24 but higher than the 2.82% reported in Q2 FY25. The Return on Assets (RoA) improved by 14 basis points year-on-year to 0.96%, compared to 0.82% in Q3 FY24, with a modest sequential rise of 2 bps from 0.94% in Q2 FY25.
Return on Equity (RoE) saw a significant increase of 157 bps, reaching 16.53% in Q3 FY25, up from 14.96% in the same period last year. The Cost to Income ratio improved to 52.63% in Q3 FY25, compared to 54.87% in Q3 FY24 and 51.22% in Q2 FY25, reflecting better operational efficiency.
AU Small Finance Bank Q3 net profit rises 41%
A net profit of Rs 528.45 crore was announced by AU Small Finance Bank on January 24 for the current fiscal year's October–December quarter. Compared to the net profit of Rs 375.25 crore recorded during the same time of the previous fiscal year, this represents a significant increase of about 41%. However, compared to the Rs 571.2 crore recorded in the preceding quarter (Q2), the net profit experienced a sequential decline of around 7.5 percent.
Also Read - Quarterly Results of all banks for Q3FY25
In Q3, the net interest income (NII) of AU Small Finance Bank increased by about 53% year over year to Rs 2,022.5 crore. The bank's Q3 net non-performing asset (NPA) margin of 0.91 percent was higher than the Q2 net NPA margin of 0.75 percent. The gross NPA margin of the bank increased to 2.31 percent in Q3 from 1.98 percent in Q2
The bank's total income jumped nearly 49 percent year-over-year to Rs 4,731.89 crore in Q3. It had reported a total income of Rs 3,178.05 crore in Q3 FY 24.
HDFC Bank Q3 Net profit up 2.2% YoY
India’s largest private sector lender HDFC Bank reported its financial results for the third quarter of FY25, posting a 2.2 percent year-on-year rise in standalone net profit to Rs 16,736 crore. The earnings surpassed Street expectations, with analysts projecting a net profit of Rs 16,650 crore, according to a Moneycontrol poll.
The bank's net interest income (NII), a key metric of the bank's earnings, grew 8 percent YoY to Rs 30,690 crore during the quarter, in line with expectations. Net Interest Margin (NIM) for the quarter was flat at 3.4 percent.
This steady growth in HDFC Bank's core earnings - both NII and net profit - came in despite a rise in NPAs and NPA ratios.
Also Read - Quarterly Results of all banks for Q3FY25
HDFC Bank faced some pressure on asset quality during the quarter. Gross non-performing assets (GNPA) increased to Rs 36,019 crore as of December 31, 2024, up 16 percent from Rs 31,012 crore a year ago. Consequently, the GNPA ratio expanded by 18 basis points to 1.42 percent from 1.26 percent in the same period last year.
Similarly, net non-performing assets (NNPA) jumped 51 percent to Rs 11,588 crore, with the NNPA ratio increasing by 15 basis points to 0.46 percent from 0.31 percent YoY.
Provisions for the quarter declined to Rs 3,154 crore from Rs 4,217 crore in the same period last year, reflecting a YoY reduction of 25 percent.
Total deposits stood at Rs 25.6 lakh crore as of December 31, 2024, registering a 15.8 percent YoY growth, while total advances rose 3 percent to Rs 25.2 lakh crore during the same period.
Karur Vysya Bank reports 20.39% rise in Q3 net profit
Private sector Karur Vysya Bank has reported a 20.39% rise in its net profit for the October-December 2024 quarter to Rs.496 crore, the bank said on Tuesday. The Tamil Nadu bank had registered a net profit of Rs.412 crore during the corresponding quarter of last financial year.
For the nine month period ending December 31, 2024, the net profit surged by 24.28% at Rs.1,428 crore, as compared to a net profit of Rs.1,149 crore recorded during the corresponding period of last financial year.
"We have continued another strong quarter of performance, guided by our three key metrics: growth, profitability and asset quality. The bank's performance indicators align with our guidance, demonstrating consistent and inclusive growth," said The Karur Vysya Bank Managing Director and CEO Ramesh Babu B.
The total income during the nine month period ending December 31, 2024 stood at Rs.8,482.33 crore, from Rs.7,049.21 crore registered in the same period, a year ago. For the quarter under review the total income of the bank went up to Rs.2,953.44 crore from Rs.2,497.17 crore registered year ago.
Also Read - Quarterly Results of all banks for Q3FY25
Babu said, "We have maintained strong trajectory of growth in RAM (retail, agriculture and micro, small and medium enterprises) verticals, continuing the solid start we made at the beginning of the year. I am confident that the same will be maintained going forward."
The total business of the bank as on December 31, 2024 stood at Rs.1,81,993 crore, from Rs.1,58,357 crore registered in the same quarter of last financial year. "Our total business crossed Rs.1.81 lakh crore. The inclusive growth from all the business segments has supported for reaching net profit of Rs.1,428 crore for the nine month period", Babu added.
As on December 31, 2024 the bank's distribution network was at 866 branches and one digital banking unit and 2,197 ATM networks. About 55% of the branches are located in semi-urban and rural areas, he said.
The Gross Non-Performing Assets (GNPA) has improved by 75 basis points and stands at 0.83 per cent of gross advances as on December 31, 2024 (Rs.691 crore) vis-à-vis 1.58% as on December 31, 2023 at Rs.1,152 crore.
Net Non-Performing Assets is below 1% and stands at 0.20% of net advances as on December 31, 2024 (Rs.167 crore) as against 0.42% as on December 31, 2023 at Rs.305 crore, the bank said.
UCO Bank Q3 Profit jumps 27%
Despite 73% higher provisions, state-owned UCO Bank reported a 27% year-over-year increase in net profit for the December 2024 quarter, coming in at Rs 639 crore as opposed to Rs 503 crore in the same period last year.
At Rs 1,586 crore, operating profit was 42% higher than at Rs 1,119 crore. During the quarter, the bank made a provision of Rs 590 crore, compared to Rs 342 crore during the same period last year.
Also Read - Quarterly Results of all banks for Q3FY25
For the quarter, the bank's net interest margin was 3.17%, which was 33 basis points more than it was a year earlier. At Rs 2378 crore, net interest income increased by around 20%.
"We would like to maintain NIM around 3%-3.10% level,' managing director Ashwani Kumar said.
Its asset quality further improved with gross non-performing assets ratio falling to 2.91% at the end of review period from 3.85% a year back. Net NPA stood at 0.63% against 0.98%. Provision coverage ratio stood at 96%.
Uco's gross advances grew 16.44% year-on-year to Rs.2.09 lakh crore while total deposits expanded by 9.36% to Rs 2.80 lakh crore. Its credit-deposit ratio rose to 74.45% from 64.83% in March 2023.
